Soy milk is a type of grain milk which is prepared by soaking
dried soya beans which is grinded in water. Soy milk is a stable emulsion of
water, oil and protein. Soy milk is available in various flavors in the market
which is also fortified with extra calcium and vitamins. Soy milk contains high
amount of essential ingredients such as carbohydrates, proteins, and calcium as
compared to regular cow milk. Soy milks does not contain lactose, and is highly
preferred by consumers which are lactose intolerant and individuals that avoid
dairy products, including vegan consumers. Manufacturers are offering
innovative soy milk-based products which are fortified with vitamins such as
vitamin B12 and B3, minerals and iron for increasing their product quality. Soy
milks are the most consumed milk alternative worldwide which are boosting the
sales growth over the recent years. Soy milk is mostly consumed by individuals
which are lactose intolerant, allergic to soy and soy-based products or milk
products. Soy milks are rich in protein and is calcium fortified drinks.
Global Soy Milk: Market Segmentation
The global soy milk
market is segmented on the basis of form, flavor, distribution channel,
application and region. The soy milk market is segmented on the basis of form such
as plain unsweetened form and plain sweetened form. The soy milk market is
segmented on the basis of flavor such as chocolate and vanilla. The soy milk
market is segmented on the basis of distribution channel such as online stores,
supermarket/hypermarket, retail stores, and others. The global soy milk market
is segmented on the basis of application in which soy milk is used in
application in food products such as cheese, desserts, and snacks and beverages
such as cold-pressed milks and others. Hence, the global soy milk market is
expected to significantly increase the revenue contribution over the forecast
period.
Global Soy Milk Market: Regional Outlook
Geographically,
the global soy milk industry can be divided by major regions which include
North America, Latin America, Western Europe, Eastern Europe, Asia Pacific,
Japan and Middle East & Africa. Globally, among all regions, Asia Pacific
has developed as the dominant region in global soy milk market followed by
Europe. Increasing demand for soy milk in lactose-intolerant consumers, has
strengthened the growth of global soy milk market and hence is projected to
significantly expand the revenue contribution of the market over the forecast
period.
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Global Soy Milk Market:
Growth Drivers
The global
soy milk market driving factors are increasing demand for lactose-free food
products due to the ease of digest which is likely to contribute significantly
to the revenue growth of global soy milk market till 2025. Growing levels of
lactose intolerance is one of the major driving factor of the market. Rising
consumer awareness regarding usage of lactose-free dairy products in day-to-day
life which helps in maintaining the galactose level in the body, is one of the
major driving factor for the market. Manufacturers are offering a variety of
soy milk-based dairy products to the consumers in order to remain in the
competition. Growing population of lactose intolerance consumers is also a
major factor which is driving the global soy milk market. Hence, the global soy
milk market is expected to observe robust growth over the forecast period.
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Global Soy Milk Market: Key Players
Some of the
key players identified across the value chain of the global soy milk market
include Vitasoy Australia, Alpro, Provamel, DREAM, Furama, NOW Foods,
Palsgaard, Pacific Foods of Oregon, Inc., The Hain Celestial Group, Inc., Lam
Soon Group are among others. The companies are expected to expand their
business by enhancing their product portfolio in global soy milk market. The
companies are projected to frame certain strategies in future in order to gain
the competitive advantage in global soy milk market till 2025.
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